In a recent article, The Caregiving Boom: Where The Job Opportunities Are, Forbes reports approximately 117 million Americans are expected to receive caregiving assistance by 2020. The caregiving boom presents a wide range of career and entrepreneurial opportunities including, health care aides, home renovation work, technology-based caregiving solutions, transportation, and meal delivery, just to name a few.
In a recent study, Caregiving Innovation Frontiers (CIF) outlines five categories of the caregiving boom, starting with the most promising job opportunities:
Daily Essential Activities
The list of daily chores that caregivers juggle is endless — cooking, cleaning, bathing and driving, just to name a few. While some caregivers handle the workload themselves, many others look to third-party providers for assistance. Visit the National Association for Home Care & Hospice for a comprehensive list of employers in this industry.
The Transition Support industry includes the following five types of career opportunities:
- Home retrofit services that make independent living easier and safer
- Long-term care insurance planning services
- Long-term care provider referral services
- Legal services (such as estate planning, medical directives, and living wills)
- Hospice and funeral planning services
Health and Safety Awareness
Health and Safety Awareness addresses the growing need for products, technologies, and services that can help aging populations stay healthy. Examples include home medical devices to report blood pressure readings, apps that remind patients to take medications and online “house call” apps connecting patients and doctors virtually.
Caregiver Quality of Life
The demanding nature of caregiving has given rise to a growing need for support services for caregivers themselves. Examples include; adult daycare services, online caregiving support groups, and knowledge-sharing platforms that are designed to help caregivers better manage their own health and wellness.
Currently reported as the smallest market with the caregiving industry, and perhaps the best-suited market for current and aspiring entrepreneurs is Care Coordination services. Patient medical billing advocates assist families in navigating the complexities of the health care costs and insurance claims. Visit patient advocate for more information.
Consult your AthLife advisor to identify training programs and entrepreneurial resources to determine if a career in caregiving is the right fit for you.